PROCEPT BioRobotics Corporation Class Action Lawsuit - PRCT

Company: PROCEPT BioRobotics Corporation

Ticker: (NASDAQ) PRCT

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Lead Plaintiff Deadline: September 22, 2026

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1. I have reviewed a complaint filed in the action.

2. I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3. I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4. My transaction(s) in PROCEPT BioRobotics Corporation which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5. Within the last 3 years,



6. I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against PROCEPT BioRobotics Corporation. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

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Class Period

Begins

28

Feb 2024

Ends

25

Feb 2026

February 28, 2024 - February 25, 2026

Allegations

The filed complaint alleges that PROCEPT BioRobotics Corporation made materially false and/or misleading statements and/or failed to disclose that: (a) during the class period, Procept had utilized an extensive discount program designed to incentivize its customers to place bulk orders in excess of procedure demand; (b) Procept’s undisclosed discount program had artificially and unsustainably inflated the Company’s reported U.S. handpiece unit sales and revenues by pulling forward sales at the expense of future periods; (c) Procept’s undisclosed discount program had caused customer handpiece orders to materially exceed underlying procedure demand throughout the class period and that this differential had materially grown over time; (d) Procept’s consistent surplus of U.S. handpiece unit sales relative to performed procedures had created a glut of field inventory and overstocking amongst Procept’s customer base, amounting to more than 10,000 excess units by the end of the Class Period; (e) as a result of (a)-(d) above, defendants’ representations during the class period regarding Procept’s handpiece unit sales and the utilization of Procept’s field Systems were materially overstated; (f) as a result of (a)-(e) above, Procept was acutely exposed to material undisclosed risks of significant operational and financial harm; and (g) as a result of (a)-(f) above, Procept was unable to achieve its stated 2025 handpiece sales and revenue guidance and such guidance lacked a reasonably achievable factual basis.

Eligibility

In order to be eligible to join the PRCT class action lawsuit, you must have incurred a loss on shares of PROCEPT BioRobotics Corporation purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in PROCEPT BioRobotics Corporation during the relevant time frame, you have until September 22, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

PROCEPT BioRobotics CorporationClass Action Lawsuit Details

Key Facts About PROCEPT BioRobotics Corporation (NASDAQ: PRCT)

●       The Allegation: The complaint alleges PROCEPT BioRobotics Corporation overstated handpiece demand and system utilization while concealing a discount program that allegedly pushed customers to place bulk handpiece orders above actual procedure demand.

●       The Stock Drop: PRCT fell $5.15, more than 18%, to $22.69 per share on February 27, 2026, after PROCEPT disclosed actual procedure data, excess field inventory of more than 10,000 units, and the elimination of bulk purchase discounts. Earlier drops included $7.28, approximately 16%, to $38.41 per share on August 8, 2025, after disappointing handpiece shipment data and guidance; $3.72, more than 10%, to $31.30 per share on November 6, 2025, after PROCEPT missed handpiece guidance and reduced annual handpiece sales guidance.

●       Class Period & Defendants: The class period runs from February 28, 2024 through February 25, 2026, inclusive. Defendants are PROCEPT BioRobotics Corporation, Reza Zadno (Chief Executive Officer and Board member until September 2025), Larry L. Wood (President and Chief Executive Officer since September 2025 and Board member since April 2024), Kevin Waters (Executive Vice President, Chief Financial Officer), and Hisham Shiblaq (Chief Commercial Officer until September 2025).

●       Lead Plaintiff Deadline: September 22, 2026. Investors who wish to seek appointment as lead plaintiff must apply by the deadline. No action is required before the deadline to remain part of the proposed class.

PROCEPT BioRobotics Class Action Summary

 

 

Company

PROCEPT BioRobotics Corporation (NASDAQ: PRCT)

Lead Plaintiff Deadline

September 22, 2026

Class Period

February 28, 2024 - February 25, 2026

Stock Drop

February 27, 2026 - PRCT fell $5.15 (more than 18%) to $22.69; August 8, 2025 - PRCT fell $7.28 (approximately 16%) to $38.41; November 6, 2025 - PRCT fell $3.72 (more than 10%) to $31.30

Introduction

A securities class action lawsuit has been filed against PROCEPT BioRobotics Corporation and certain executives. The lawsuit seeks to represent investors who purchased PROCEPT common stock from February 28, 2024 through February 25, 2026.

The complaint alleges defendants made materially false and misleading statements about handpiece sales, procedure demand, and device utilization. Plaintiffs say a discount program caused customers to buy excess handpieces, which inflated reported sales.

Investors allegedly learned the truth through disclosures in August 2025, November 2025, and February 2026. After the February disclosure, PRCT fell more than 18% over two trading days.

Company Profile

PROCEPT BioRobotics Corporation is a commercial-stage medical technology company focused primarily on treating benign prostatic hyperplasia, commonly known as an enlarged prostate. During the Class Period, the Company manufactured and sold medical devices that deliver its proprietary Aquablation therapy, including an image-guided surgical system and single-use handpieces.

Class Period

February 28, 2024 – February 25, 2026

Investors who purchased or acquired PROCEPT BioRobotics Corporation (PRCT) securities during the Class Period may be eligible to seek recovery under federal securities laws.

Allegations

The PROCEPT BioRobotics Corporation securities lawsuit centers on the Company's reported U.S. handpiece sales and the utilization of its installed AquaBeam Robotic Systems. According to the complaint, PROCEPT used a recurring revenue model in which expanded system placements were expected to drive single-use handpiece sales. The Company sold handpieces for approximately $3,200 per unit and each system for more than $400,000, making sustained handpiece growth critical to financial performance.

Plaintiffs allege defendants repeatedly told investors that handpiece sales reflected actual procedure demand and growing utilization. On February 27, 2024, after market close, PROCEPT reported U.S. handpiece revenue of $21.6 million for the fourth quarter of 2023 and quoted Reza Zadno as saying the Company had succeeded in increasing average monthly utilization in the United States by approximately 10%. During the same earnings call, Kevin Waters stated that monthly utilization per account increased approximately 13% and that PROCEPT continued to see increased account-level utilization over time.

The complaint further alleges that similar statements continued throughout 2024 and 2025. On May 1, 2024, Waters stated that PROCEPT shipped 6,811 handpieces in the United States during the first quarter and that customers tended to order product as needed, adding that the Company had not seen any changes in trends between handpieces sold and procedures. On August 6, 2025, after an analyst asked about the ratio of handpieces shipped to procedures performed, Waters represented that the differential between procedures and handpieces had remained relatively consistent throughout PROCEPT's time as a public company.

Plaintiffs allege those statements were materially false and misleading because defendants failed to disclose that PROCEPT used an extensive discount program designed to incentivize bulk handpiece purchases beyond procedure demand. The lawsuit claims the program artificially and unsustainably inflated U.S. handpiece unit sales and revenues by pulling forward demand from future periods. According to the complaint, the undisclosed practice caused customer handpiece orders to materially exceed underlying procedures throughout the Class Period and created more than 10,000 excess units of field inventory by the end of the Class Period.

The Truth Emerges

The alleged truth began to emerge on August 6, 2025, when PROCEPT announced second quarter 2025 earnings and revealed that it had sold approximately 12,750 U.S. handpieces during the quarter. Waters also reported that PROCEPT expected to ship approximately 13,350 units in the next quarter, below consensus estimates of more than 13,840 units. The same disclosure included the elimination of the Chief Commercial Officer role, with Hisham Shiblaq departing the Company.

Additional information surfaced on November 4, 2025, when PROCEPT reported third quarter 2025 earnings and disclosed that it had sold 13,225 handpieces, missing prior guidance. Waters reduced annual handpiece sales guidance by 1,000 units, from 53,000 to 52,000, to allow for the "optimization of field inventory." During the call, Wood admitted that PROCEPT had not been managing customer inventory by establishing par levels and that some customers were probably carrying too much inventory.

The most detailed disclosure came on February 25, 2026, when PROCEPT announced fourth quarter and full-year 2025 results. The Company disclosed actual procedure data for the prior three years, which allegedly showed that U.S. handpiece sales had materially exceeded procedures in every quarter since the first quarter of 2023. Wood also revealed that PROCEPT was eliminating a longstanding discount program that had incentivized customers to make bulk handpiece purchases during the final weeks of each quarter.

Market Reaction

Following the August 6, 2025 earnings announcement, PRCT fell from $45.69 per share on August 6, 2025 to $38.41 per share on August 8, 2025, a decline of approximately 16% over two trading days, on above-average trading volume. After the November 4, 2025 disclosure, PRCT fell from $35.02 per share to $31.30 per share on November 6, 2025, a decline of more than 10% over two trading days, also on above-average trading volume.

The largest alleged stock decline followed PROCEPT’s February 25, 2026 earnings announcement. PRCT fell from $27.84 per share on February 25, 2026 to $22.69 per share on February 27, 2026, a decline of more than 18% over two trading days, on above-average trading volume. The complaint also alleges the stock later fell to less than $18 per share by July 22, 2026.

Next Steps

●       Lead Plaintiff Deadline: September 22, 2026

●       After the lead plaintiff deadline, the Court will consider any lead plaintiff motions.

●       Defendants may file a motion to dismiss.

●       If the case proceeds, the Court may later consider class certification.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. Prior results do not guarantee similar outcomes.